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Crypto Trends

Financial Firm Accused Of Daily Scam Emails In Exchange’s Collapse

by admin August 22, 2025


Trusted Editorial content, reviewed by leading industry experts and seasoned editors. Ad Disclosure

Kroll, a financial and risk advisory firm, is facing a class-action suit after a data breach that exposed personal details of creditors tied to FTX, BlockFi and Genesis.

According to the complaint, the breach in August 2023 let malicious actors obtain sensitive data, and that exposure has led to a wave of phishing attempts against creditors.

Allegations Of Negligence

Based on reports, the lawsuit says Kroll relied only on email for claims outreach, which made the verification process vulnerable.

The suit was filed on Tuesday in a US district court by Hall Attorneys on behalf of FTX customer Jacob Repko and other affected creditors.

The complaint claims that email-only contact created a single point of failure, and that the verification system was compromised, causing delays and, in some cases, loss of funds.

Hall Attorneys say the matter is not just about money but about fixing how creditors are contacted going forward.

Nicholas Hall, who leads the firm handling the suit, has told creditors that eligible participants might get monetary compensation and that court rulings could force operational changes at Kroll.

Repeated Breaches Raise Questions

Reports have disclosed that this is not an isolated incident for Kroll. In March, the firm reportedly suffered another breach that exposed client invoicing, accounts payable and email addresses.

Sunil Kavuri, a prominent FTX creditor, posted on X that he has been getting phishing emails on a daily basis, and he shared screenshots showing scams addressed to him by name.

One screenshot in the report shows messages arriving from Aug. 14 through Sunday, and other users replied saying they had seen the same emails.

Total crypto market cap currently at $3.7 trillion. Chart: TradingView

Third Round Of FTX Reimbursement In September

The suit comes as FTX moves ahead with payouts to creditors. The third round of reimbursement is set to start on Sept. 30 and will total nearly $2 billion.

More than $5 billion went out in the second round in May, and in February the plan covered $1.2 billion for users with claims up to $50,000.

The FTX Collapse

FTX’s collapse in November 2022, spearheaded by its ex-CEO Sam Bankman-Fried, rocked the entire crypto market and erased billions of investor value.

Its failure set off a chain reaction that saw prices of digital assets plummet and raise profound doubts about risk management and transparency in the industry.

For most investors, the case was a watershed, underscoring the weaknesses of centralized platforms and stoking demands for a more extensive regulation and protection in crypto.

Featured image from Quartz, chart from TradingView

Editorial Process for bitcoinist is centered on delivering thoroughly researched, accurate, and unbiased content. We uphold strict sourcing standards, and each page undergoes diligent review by our team of top technology experts and seasoned editors. This process ensures the integrity, relevance, and value of our content for our readers.



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August 22, 2025 0 comments
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Crypto Trends

Shinhan, Hana, Woori, KB Financial Said to Meet Tether, Circle on Won Stablecoins: Report

by admin August 22, 2025



South Korea’s largest financial groups are set to meet officials from Tether and Circle Internet (CRCL), issuers of the two largest stablecoins, as early as this week, according to Yonhap.

In separate meetings, executives from Shinhan, Hana, KB Financial and Woori Bank will discuss potential partnerships on distributing and transacting with dollar-pegged stablecoins in the country, as well as explore the issuance of a stablecoin pegged to the won.

The moves come as President Lee Jae Myung’s pro-crypto administration pushes to establish a market for stablecoins, digital tokens whose value is pegged to a conventional asset, tied to the won, a key pledge from his election campaign. The Bank of Korea shelved plans to issue a central bank digital currency (CBDC) in June following Lee’s election earlier in the month. Upbit, one of the country’s largest crypto exchanges, has already said it’s working with Naver Pay on a stablecoin.

Shinhan CEO Jin Ok-dong and Hana CEO Ham Young-joo are scheduled to meet Circle President Heath Tarbert on Friday, and Ham is also expected to sit down with a Tether official later the same day. KB Financial’s chief digital & IT officer, Lee Chang-kwon, and Woori Bank President Jeong Jin-wan are reportedly arranging similar talks with Circle, whose USDC is the second-largest stablecoin, trailing Tether’s USDT.

Read more: Crypto for Advisors: Asian Stablecoin Adoption



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August 22, 2025 0 comments
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No, Silksong hasn't been in development hell, hype skyrocketed sales of the original game to give Team Cherry financial freedom
Game Reviews

No, Silksong hasn’t been in development hell, hype skyrocketed sales of the original game to give Team Cherry financial freedom

by admin August 21, 2025


Earlier today, Team Cherry finally announced a release date for its long-awaited Hollow Knight sequel Silksong. After seven years, it will finally be out next month.

Yet contrary to what you may believe, Silksong hasn’t been in development hell for that time. Instead, Team Cherry’s developers were just having too much fun making it.

In fact, sales of the original game have skyrocketed from 2.8m copies to 15m copies since Silksong’s announcement in 2019, giving the studio the financial freedom to take their time.

Hollow Knight: Silksong – Special AnnouncementWatch on YouTube

What was originally intended as an expansion to Hollow Knight soon ballooned into its own game, with the studio announcing in February 2019 it would be a full sequel.

“Even at that point we were recognising that it was going to become another giant thing to rival the scale of Hollow Knight or probably exceed it,” Team Cherry co-founder Ari Gibson told Bloomberg. “And then because of how we work, obviously the world ended up being just as big or bigger. And the quest system existed. And the multiple towns existed. Suddenly you end up six, seven years later.”

“It was never stuck or anything,” Gibson added. “It was always progressing. It’s just the case that we’re a small team, and games take a lot of time. There wasn’t any big controversial moment behind it.”

That 12m rise in sales of the original Hollow Knight is extraordinary. Somehow, Team Cherry inadvertently created the ultimate hype machine: hype for the sequel led to sales for the original, which meant it could take longer to develop, which fed the hype even more due to silence, which became a meme, which meant it could take even longer.

“We’re very lucky in that regard,” said Gibson. “I don’t ever really think about it that much. Maybe that’s the privilege of it.”

No strict deadline and a flood of financial income meant Team Cherry could take its time. It’s in stark contrast to so many other studios at the moment hell-bent on chasing trends and generating cash in the face of rising development costs, which has inevitably resulted in the mass layoffs across the industry in the last couple of years.

By contrast, Team Cherry has remained lean. What’s more, it’s spent the past seven years enjoying development.

“We’ve been having fun,” said Gibson said. “This whole thing is just a vehicle for our creativity anyway. It’s nice to make fun things.

“We’re very fortunate that we have a development method that is so enjoyable,” Gibson continued. “Not exactly sure how we stumbled into that. Everything comes together quickly. You can see results fast. Ideas turn into something that exist in the game almost immediately before your eyes, and that’s very satisfying. And that allows you to go off on those tangents and meet weird characters because someone’s off-handedly mentioned a weird character as an idea and the other person’s laughed, and that’s enough.”

Will Silksong push the Metroidvania genre to new heights? | Image credit: Team Cherry

“You’re always working on a new idea, new item, new area, new boss,” added co-founder William Pellen. “That stuff’s so nice. It’s for the sake of just completing the game that we’re stopping. We could have kept going.”

Add to that a desire for exceptional polish, and it’s easy to see how development could have continued even longer.

“I think we’re always underestimating the amount of time and effort it’ll take us to achieve things,” said Gibson. “It’s also that problem where, because we’re having fun doing it, it’s not like, ‘It’s taking longer, this is awful, we really need to get past this phase.’ It’s, ‘This is a very enjoyable space to be in. Let’s perpetuate this with some new ideas.'”

“There’s a level of finish that has to be met throughout the entire game,” added Pellen. “All the way the systems interact, all the hidden work that pops up later on. It’s multiplicative. As you add stuff, the process of tying it all back together just increases.”

Of course, it remains to be seen whether Silksong will fully live up to the hype, but with its release date of 4th September it won’t be long until we find out. At the least, it follows games like Clair Obscur: Expedition 33 as a project with a relatively small team and a huge amount of passion finding big success, where so many AAA studios and publishers have stumbled.



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August 21, 2025 0 comments
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KindlyMD shareholders approve Bitcoin pivot via Nakamoto Holdings merger
GameFi Guides

Pompliano unveils ProCap Financial, eyes $1b BTC play via SPAC

by admin June 23, 2025



Crypto media personality Anthony Pompliano announced the launch of his own BTC-focused company on Nasdaq.

Michael Saylor’s Strategy may soon be getting a big competitor. On Monday, June 23, crypto podcaster and X influencer Anthony Pompliano announced the creation of ProCap Financial. The company will focus on accumulating Bitcoin (BTC) as a treasury asset, giving ordinary investors exposure to it.

Today I am announcing a $1 BILLION merger to create ProCap Financial, a bitcoin-native financial services.

The company will be a publicly traded entity on Nasdaq at the conclusion of the proposed business combination between my private company ProCap BTC, LLC and Columbus Circle…

— Anthony Pompliano 🌪 (@APompliano) June 23, 2025

The company will launch through a $1 billion SPAC merger between his private firm, ProCap BTC, and the publicly traded Columbus Circle Capital Corp. So far, his company has raised $750 million in capital for its Bitcoin treasury bid.

Pompliano also confirmed that ProCap Financial will list on Nasdaq as $CCCM. Out of the $750 million raised, the firm will use $516.5 million to acquire Bitcoin reserves within 15 days of signing, in order to mitigate market risk.

Pompliano’s company to leverage the Bitcoin network

This news comes after reports earlier in July suggested that Pompliano was planning a billion dollar move. In addition to acquiring Bitcoin, ProCap Financial will also develop products that leverage Bitcoin’s network to generate profits over time.

“ProCap Financial will focus on acquiring bitcoin for its balance sheet, while also developing products and services to produce revenue and profit from the bitcoin on our balance sheet over time,” Anthony Pompliano.

In recent months, there has been a growing trend of companies adopting Bitcoin treasuries. The catalyst for the shift was the election of a pro-crypto administration in the White House. Notable examples include GameStop, 21 Capital, and Nakamoto. Collectively, 216 companies currently own nearly 31% of BTC’s supply, accounting for 765,300 bitcoins.

By far the biggest holder among them is Strategy, founded by Bitcoin maximalist Michael Saylor. His firm owns 592,345 bitcoins, worth more than $60 billion. In an X reply to the announcement, Saylor congratulated Pompliano on the move.





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June 23, 2025 0 comments
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Israel-Tied Predatory Sparrow Hackers Are Waging Cyberwar on Iran's Financial System
Product Reviews

Israel-Tied Predatory Sparrow Hackers Are Waging Cyberwar on Iran’s Financial System

by admin June 18, 2025


The Israel-linked hacker group known as Predatory Sparrow has carried out some of the most disruptive and destructive cyberattacks in history, twice disabling thousands of gas station payment systems across Iran and once even setting a steel mill in the country on fire. Now, in the midst of a new war unfolding between the two countries, they appear to be bent on burning Iran’s financial system.

Predatory Sparrow, which often goes by its Farsi name, Gonjeshke Darande, in an effort to appear as a homegrown hacktivist organization, announced in a post on on its X account Wednesday that it had targeted the Iranian crypto exchange Nobitex, accusing the exchange of enabling sanctions violation and terrorist financing on behalf of the Iranian regime. According to cryptocurrency tracing firm Elliptic, the hackers destroyed more than $90 million in Nobitex holdings, a rare instance of hackers burning crypto assets rather than stealing them.

“These cyberattacks are the result of Nobitex being a key regime tool for financing terrorism and violating sanctions,” the hackers posted to X. “Associating with regime terror financing and sanction violation infrastructure puts your assets at risk.”

The incident follows another Predatory Sparrow attack on Iran’s finance system on Wednesday, in which the same group targeted Iran’s Sepah bank, claiming to have destroyed “all” the bank’s data in retaliation for its associations with Iran’s Islamic Revolutionary Guard Corps, and posting documents that appeared to show agreements between the bank and the Iranian military. “Caution: Associating with the regime’s instruments for evading sanctions and financing its ballistic missiles and nuclear program is bad for your long-term financial health,” the hackers wrote. “Who’s next?”

Sepah Bank’s website was offline yesterday but appeared to be working again today. The bank didn’t respond to WIRED’s request for comment. Nobitex’s website was offline today and the company couldn’t be reached for comment.

As is often in the case in the fog of an unfolding war and its accompanying cyberattacks, what effects Predatory Sparrow’s cyberattacks have had remain unclear. In the Nobitex attack, however, blockchain analysis reveals some of the details of Predatory Sparrow’s sabotage: According to Elliptic, the eight-figure sum stolen from the exchange was moved to a series of crypto addresses that all started with variations on the phrase “FuckIRGCterrorists.” Those so-called “vanity” addresses typically can’t be created in any way that offers control or recovery of funds held there, so Elliptic concludes that moving funds to those addresses was instead a pointed method of destroying the money. “The hackers clearly have political rather than financial motivations,” says Tom Robinson, Elliptic’s cofounder. “The crypto they stole has effectively been burned.”

Elliptic also confirmed in its blog post about the attack that crypto tracing shows Nobitex does in fact have links with sanctioned IRGC operatives, Hamas, Yemen’s Houthi rebels, and the Palestinian Islamic Jihad group. “It’s also an act of sabotage, by attacking a financial institution that was pivotal in Iran’s use of cryptocurrency to evade sanctions,” Robinson says.



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June 18, 2025 0 comments
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Decrypt logo
Crypto Trends

Trump Discloses $57M Windfall From Crypto Venture World Liberty Financial

by admin June 16, 2025



In brief

  • Donald Trump earned $57.3 million from the World Liberty Financial token launch, drawing bipartisan criticism over potential conflicts of interest.
  • The crypto platform, launched with his sons, raised $550 million from over 85,000 investors worldwide.
  • Despite the crypto windfall, Trump’s golf resorts and licensing deals remain his top earners, pushing total 2024 income past $600 million.

President Donald Trump pocketed $57.3 million from his crypto venture World Liberty Financial, earnings that had lawmakers calling it “open corruption.”

The windfall came from token sales by World Liberty Financial, the decentralized finance platform Trump launched with his three sons—Donald Jr., Eric, and Barron—before winning the 2024 election. 

The disclosure, spanning 234 pages and filed with the Office of Government Ethics, reveals Trump’s crypto bet paid off handsomely as his administration took office.

The crypto earnings reveal that Trump has successfully monetized his political brand across multiple ventures, from meme coins to golf resorts, generating over $600 million in total income. 

World Liberty Financial raised approximately $550 million through two token sales, with more than 85,000 investors participating globally, as per a March statement.

Despite the substantial crypto earnings, Trump’s golf empire remains his financial heavyweight. 

Trump Endeavor 12 LLC, his Miami-based company owning golf courses and resorts, generated $110 million, nearly double his crypto income.

The disclosure reveals Trump values 22 assets at more than $50 million each, including his Turnberry Scotland golf resort and stakes in Trump Media & Technology Group, which owns Truth Social. 

His Mar-a-Lago Club alone contributed over $50 million in resort-related revenue.

His company, CIC Digital LLC, earned $1.1 million in 2024 from licensing his image on non-fungible tokens and holds an Ethereum wallet worth at least $1 million.

However, his newer meme coin venture, Fight Fight Fight LLC, wasn’t included in the 2024 disclosure since it falls outside the reporting period.

In May, Trump hosted a dinner for the 220 largest holders of the Official Trump (TRUMP) meme coin, causing its price to surge 56% when the event was announced in April. 

The filing also details extensive royalty income, including $2.8 million from Trump Watches, $2.5 million from Trump Sneakers and Fragrances, and $1.3 million from the Greenwood Bible, described as “the only Bible officially endorsed by Lee Greenwood and President Trump.”

His foray into digital assets represents a significant shift for a president who once dismissed Bitcoin as a ‘scam against the dollar.’

However, Trump’s crypto ventures did spark intense bipartisan criticism on Capitol Hill.

“It is open corruption,” declared Representative Gerry Connolly, characterizing Trump’s deep crypto ties as creating unprecedented conflicts of interest.

The disclosure lists eleven outstanding debts, including judgments from E. Jean Carroll’s sexual assault and defamation cases and obligations from his 34-felony conviction—all stayed pending appeals. 

Seven real estate loans exceed $50 million each on properties including Trump Tower and Trump National Doral.

Edited by Sebastian Sinclair

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June 16, 2025 0 comments
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Helene Braun
NFT Gaming

Trump’s Empire Pulled In $57M From World Liberty Financial Last Year, Filing Shows

by admin June 15, 2025



Donald Trump’s crypto wallet and branding empire earned tens of millions of dollars last year, with World Liberty Financial netting the U.S. President $57.4 million, according to a newly released federal financial disclosure.

The document, published by the Office of Government Ethics, shows Trump’s personal crypto holdings are estimated to be between $1 million and $5 million. He also declared gold bars as investments between $250,000 and $500,000, various money market funds, equity and Treasury bond holdings, and real estate.

In addition to his crypto holdings and income, Trump seemingly collected over $11 million in royalties tied to branded merchandise.

That includes $3 million for a coffee table book titled “Save America,” $2.5 million from Trump sneakers and fragrances, $2.8 million from watches, $1.3 million for “The Greenwood Bible,” a religious book bearing his name, and $100,000 from non-fungible tokens (NFTs). The latter also brought in $1 million from licensing fees.

Trump’s assets are reportedly held in a trust managed by his children.

While the U.S. President’s financial disclosure document spans 234 pages, Vice President JD Vance filed a 15-page disclosure showing more modest holdings and not mentioning crypto.

The White House didn’t immediately respond to CoinDesk’s request for comments on Trump’s holdings.



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June 15, 2025 0 comments
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Crypto Is the Future, Says CEO of $1.5 Trillion Financial Giant
GameFi Guides

Crypto Is the Future, Says CEO of $1.5 Trillion Financial Giant

by admin June 12, 2025


In her recent op-ed published by Fortune, Jenny Johnson, chief executive officer at financial giant Franklin Templeton, argues that the financial industry can no longer afford crypto and blockchain, arguing that they represent the future of finance. 

Johnson has warned that legacy firms that are reluctant to embrace this disruptive technology could end up getting “wiped out” like American video rental shop Blockbuster.

This inevitable disruption is expected to take place within the next five years, according to the Franklin Templeton boss. 

She believes that legacy financial systems are too slow and geographically siloed to remain relevant. 

Johnson is convinced that crypto and blockchain can offer significant advantages to investors since they are way more efficient. They offer 24/7 trading, seamless asset tracking, flexible tokenization, and so on. 

The 61-year-old executive has noted that such blockchain networks as Solana and Sui can rival Visa in terms of transaction throughput. At the same time, decentralized exchanges of the likes of Uniswap are capable of handling trillions of dollars worth of trading volume. 

Franklin Templeton’s crypto journey

Franklin Templeton is, of course, not new to crypto. It started exploring the nascent asset class in 2018. 

In September 2021, the firm filed to raise $20 million via its first blockchain venture fund. 

The company also offers several cryptocurrency ETFs. In late 2024, the company obtained approval to launch the first ETF that combines Bitcoin and Ether in partnership with Hashdex. 

As reported by U.Today, Franklin Templeton is also the largest player to file for spot-based Solana ad XRP ETFs. 



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June 12, 2025 0 comments
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Francisco Rodrigues
NFT Gaming

World Liberty Financial to ‘Align’ With TRUMP Memecoin, Add it to Its Treasury

by admin June 7, 2025



Eric Trump said that World Liberty Financial, the decentralized finance project with ties to the Trump family, plans to acquire a “substantial position” in the TRUMP memecoin for its long-term treasury as it “aligns” with the project.

The announcement, posted to X on Friday, framed the move as part of a shared vision for “crypto, patriotism and long-term success.”

While few concrete details were provided, the commitment suggests an effort to bring a veneer of institutional weight to a token that, like most memecoins, trades largely on attention and branding.

It’s unclear how much capital the firm plans to commit. Other holdings in its portfolio include major altcoins like ether

, bitcoin , and TRX , along with some stablecoins.

The project has nevertheless accumulated several lesser-known tokens, including BUILDon (B) after the project announced it would use WLF’s USD1 stablecoin for real-world use cases.



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June 7, 2025 0 comments
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World Liberty Financial Joins Trump Memecoin With Big Investment
Crypto Trends

World Liberty Financial Joins TRUMP Memecoin With Big Investment

by admin June 7, 2025



World Liberty Financial (WLFI) is making a bold move into the crypto space as it plans to acquire a substantial position in the $TRUMP memecoin.

On X, the news was shared by Eric Trump, who confirmed WLFI’s alignment with the $TRUMP project. He also said, “Although their meme wallet isn’t moving forward, they remain focused on building the most exciting MEME on earth – $Trump.”

According to Trump, WLFI’s investment in $TRUMP reflects a long-term commitment to the memecoin’s growth and potential. The acquisition is intended to support the project’s future while also forming part of WLFI’s long-term crypto treasury strategy.

Eric Trump emphasized that this partnership is about more than just a token and said,  “We share a bigger vision for crypto, patriotism, and long-term success.” In this tweet, he also tagged Barron Trump, Donald Trump Jr., and TrumpMeme. This suggests that more members of the Trump family and community may be involved in promoting the $TRUMP memecoin. More updates are expected soon.

Following the announcement, TRUMP saw a positive reaction in the market and surged to $10.08, with a daily gain of 2.90% on Friday.

Also Read: Donald Trump Jr. Asserts “Zero Involvement” in Trump Wallet



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June 7, 2025 0 comments
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